UK diverts £2 billion of Russian assets to Ukraine

Chancellor Rachel Reeves announced that over £2 billion from frozen Russian assets will be sent to Ukraine to support its military. This marks a shift in the use of the National Wealth Fund, previously focused on green energy projects. Reeves plans to sign a loan agreement with Ukraine, allowing £2.26 billion to be allocated for defense. She is encouraging other European leaders to follow the UK's example in responding to changing global security needs. The announcement coincides with Ukrainian President Volodymyr Zelensky's meeting with UK Prime Minister Keir Starmer, who expressed strong support for Ukraine. Tensions arose during Zelensky's recent meeting with US President Trump, highlighting challenges in US-Ukraine relations.